Zurcher Kantonalbank Zurich Cantonalbank Buys 11,395 Shares of United Rentals, Inc. (NYSE:URI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in United Rentals, Inc. (NYSE:URI) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,486 shares of the construction company’s stock after purchasing an additional 11,395 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.28% of United Rentals worth $108,655,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in United Rentals during the 4th quarter worth $586,415,000. Moneta Group Investment Advisors LLC increased its holdings in United Rentals by 104,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock worth $476,961,000 after purchasing an additional 1,340,676 shares during the period. International Assets Investment Management LLC increased its holdings in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after purchasing an additional 1,041,281 shares during the period. Royal Bank of Canada increased its holdings in United Rentals by 49.1% during the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock worth $238,890,000 after purchasing an additional 221,613 shares during the period. Finally, Vanguard Group Inc. increased its holdings in United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of URI stock traded down $10.77 on Tuesday, hitting $655.97. The company had a trading volume of 568,385 shares, compared to its average volume of 575,682. The firm has a market cap of $44.06 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.34 and a beta of 1.84. The company has a 50-day moving average price of $680.96 and a 200-day moving average price of $566.65. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the business earned $9.74 EPS. United Rentals’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals, Inc. will post 43.05 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 13th. United Rentals’s payout ratio is 18.44%.

United Rentals announced that its board has initiated a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on URI. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a report on Friday, January 5th. Truist Financial began coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price target on the stock. Robert W. Baird lifted their price target on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. The Goldman Sachs Group boosted their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average target price of $589.21.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.49% of the stock is owned by company insiders.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.